Payments News
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Systems

Cash May Not Be King, but It’s Still Royalty

“Yet digital’s gain isn’t necessarily coming at the expense of cash. The overall pie still appears to be growing. Only two countries, Russia and Sweden, had a net substitution of cards for cash from 2007 to 2016, with cash in circulation shrinking as card payments grew, according to the Bank for International Settlements. In other […]

On The Web

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Systems

Why the Fed Is Taking an Incremental Approach to Faster Payments

“The Federal Reserve faces a dilemma in constructing a real-time payments system. On one hand, the market seemed to demand faster payments solutions yesterday. On the other, the Fed’s undertaking is complex, so making it work will take time. To address both realities, the leader of the central bank’s project says the Fed has adopted […]
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Systems

Brazil to Launch National Instant Payments System

“Brazil’s central bank will turn on a national instant payments network in November that will allow consumers to make payments and transfers “in a few seconds, 24 hours a day, seven days a week, including between accounts of different institutions” using QR codes, NFC, their mobile phone number, email address or taxpayer ID.”

On The Wires

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Systems

Volante Technologies Joins U.S. Faster Payments Council

“Volante Technologies Inc., a global provider of payments and financial messaging solutions to accelerate digital transformation, today announced that it has officially joined the U.S. Faster Payments Council (FPC), a membership organization devoted to advancing faster payments in the United States. As a member of the council, Volante will be joining as a voting member in the […]
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Companies

Western Union Expands Global Real-Time Payments Network

“Western Union, a leader in cross-border, cross-currency money movement and payments, today announced continued expansion of its Global Network for real-time money-movement and payments, benefiting the Company’s consumers and clients across its branded money transfer and payments business as well as its expanding white-label business. Western Union’s vast global retail network of over 550,000 agent locations […]
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Systems

BMO Harris Bank Offers Zelle® to Commercial Banking Customers

“BMO Harris Bank continues to expand its digital banking capabilities for its commercial customers with their recent launch of Payments with Zelle. The payment service makes it easy and fast for commercial clients to pay individuals in minutes without the banking information required for ACH transactions*. From rebates, to returns, to payroll or insurance payouts, […]
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Global

Deutsche Bank Launches PromptPay Instant Payments in Thailand

“Deutsche Bank AG, Bangkok Branch today announced the launch of PromptPay instant payments in Thailand. As part of the phase one roll-out, the bank will be offering its clients instant collections throughout Thailand. Later in the year, phase two will enable instant payments to be made throughout the country. PromptPay collections for corporates are fast […]
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Providers

100 Financial Institutions to Provide Real-Time Payments With Jack Henry

“Jack Henry & Associates, Inc. (NASDAQ: JKHY ) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. The company announced today that there are more than 100 financial institutions implementing its faster payments hub, JHA PayCenter™, to connect to Early Warning Services’ Zelle Network® and The Clearing House’s […]